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Updated about 4 years ago,
Partner and Private Lender Contracts
Hello BiggerPockets!
I'm currently developing a presentation to get financial assistance from a long time friend (basically family). This friend and I have always talked about starting a business together and my recent fervor for real estate investing as sparked the opportunity to make our dreams a reality. My passion for hitting the books and doing the dirty work is what I bring to the table and my potential partner has the ability to bring the capital.
I'd like to come to our first meeting with some examples of contracts, documents, etc. that will help them feel more secure in how potentially their money will be invested and how much their return could be and when they could get it?
How do others typically start partnerships? Is there a place I can find some example terms of a private lending transaction to base ours off of? What if it just isn't just a lending situation but also a partner in other aspects of the business other than the financials?
Thanks in advance to the community for your support!